Sirios Resources Inc.
TSX VENTURE : SOI

Sirios Resources Inc.

December 19, 2014 15:29 ET

Sirios Resources Inc.: Closing of Private Placements for $677,610

MONTREAL, QUEBEC--(Marketwired - Dec. 19, 2014) - SIRIOS RESOURCES INC. (TSX VENTURE:SOI) completed today the closing of non-brokered private placements for an amount of $677,610. A sum of $477,610 was collected by issuance of units while an additional amount of $200,000 came from issuance of flow-through shares.

A total of 6,823,001 units were issued and of 2,000,000 flow-through shares at $0.10 were subscribed. Each unit, sold at $0.07, is composed of a Common Share and half a warrant of Sirios. Each warrant entitles its holder to subscribe for one Common Share at $0.10 for a period of 12 months after the closing date. A director of the Company participated in the placement for an amount of $1,000.

Finder's fees of $13,480 were paid for the financing. In addition, Sirios issued finder's warrants entitling holders to purchase 68,400 Common Shares at $0.10 for a period of 12 months after the closing date.

There will be a hold period of four months and one day on all securities issued under these financings. The TSX Venture has conditionally approved the private placements.

The proceeds of these placements will mainly be used by Sirios for exploration fieldwork on its Cheechoo gold project, neighbour of the gold mine Eleonore of Goldcorp located in James Bay, as well as for general purposes. Please refer to the website of Sirios for more information on the Cheechoo project.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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